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By the end of 2015, Willis Group Holdings P.L.C. will merge with human resources consultancy Towers Watson & Co. to form a company valued at about $18 billion.
Willis joins the list of insurance brokers looking to tap the lucrative benefits market through mergers with human resources consultancies, while the deal will give Towers Watson access Willis' global network.
Steve Hearn has been named global CEO of London-based brokerage Cooper Gay Swett & Crawford Ltd. effective Nov. 2, the company announced Monday.